32.Parliament VII – Money Bills & Budget Flashcards
What are money bills?
Money bills are bills mentioned in Article 110 and pertain to the imposition, abolition, remission, or regulation of taxes, as well as the regulation of government borrowings.
Which article of the constitution defines money bills?
Money bills are defined in Article 110 of the constitution.
What does a money bill require for appropriation of funds?
Any money to be appropriated out of the Consolidated Fund of India requires a money bill.
Which article deals with the procedure for passing money bills?
The procedure for passing money bills is outlined in Article 109.
Where are money bills introduced?
Money bills are introduced only in the Lok Sabha (the lower house of Parliament).
Who recommends the introduction of a money bill in the Lok Sabha?
The President recommends the introduction of a money bill in the Lok Sabha.
What powers does the Rajya Sabha (the upper house of Parliament) have regarding money bills?
The Rajya Sabha has restricted powers and cannot reject or amend a money bill.
Within how many days does the Rajya Sabha need to return the money bill to the Lok Sabha?
The Rajya Sabha needs to return the money bill within 14 days, either with or without recommendations for amendments.
What happens if the Rajya Sabha does not return the money bill within the prescribed days?
If the Rajya Sabha does not return the money bill within the prescribed days, the bill is deemed to have been passed by it.
Can the Lok Sabha accept or reject the amendments proposed by the Rajya Sabha?
The Lok Sabha may or may not accept the amendments proposed by the Rajya Sabha.
Whose assent is required after a money bill is passed by both houses?
The President’s assent is required after a money bill is passed by both houses.
What actions can the President take after a money bill is passed by both houses?
The President can either give assent to the bill or withhold assent.
Can the President return a money bill for reconsideration?
No, the President cannot return a money bill for reconsideration.
What types of bills are not considered as money bills?
Bills that only pertain to the imposition of fines or pecuniary penalties, or demand payment of license fees or regulation taxes by local authorities, are not considered as money bills.
Are all financial bills considered as money bills?
No, all money bills are considered as financial bills, but not all financial bills are money bills.
Under which article are financial bills mentioned?
Financial bills are mentioned under Article 117(1) of the constitution.
Give an example of a financial bill that contains matters beyond those mentioned in Article 110.
An example is the CAMPA bill of 2015, which included funds as well as the general protection of forests.
Is the certification of the Speaker required for Finance Bill (I)?
No, the certification of the Speaker is not required for Finance Bill (I).
Can the Rajya Sabha amend and reject Finance Bill (I)?
Yes, the Rajya Sabha can amend and reject Finance Bill (I).
Is there a provision for a joint sitting for Finance Bill (I)?
Yes, Finance Bill (I) has a provision for a joint sitting.
Is the President’s recommendation required for the introduction of Finance Bill (I)?
Yes, the President’s recommendation is required for the introduction of Finance Bill (I).
Is there any exception to the President’s recommendation requirement for Finance Bill (I)?
Yes, if the bill is about the reduction or abolition of tax, it can be introduced without the President’s recommendation.
Is Financial Bill (II) considered an ordinary bill or a money bill?
Financial Bill (II) is considered an ordinary bill.
At which stage is the President’s recommendation required for Financial Bill (II)?
The President’s recommendation is required at the stage of consideration of Financial Bill (II).